Cable has rallied back above 1.60, presently at 1.6015 having been as high as 1.6028.
In an interview with Dow Jones Goldman’s Jim O’Neil has said one of his favourite trades for 2010 is to buy GBP/JPY.
He feels concerns over UK and US sovereign credit ratings are overdone.
It has been well-documented that Mr O’Neil isn’t a big fan of the yen.
GBP/JPY trades up at 147.65 from an early 146.95.